Self-Help Blog update: Welcome to Two Credit Unions in South Carolina

Updates from the Self-Help Shares blog
View this email in your browser
Forward to a friend
Self-Help Logo
Self-Help Shares is a blog from Self-Help, where we share with you stories about our members, staff and community.
To read more, visit our blog.
Got a story to share? Email us at shonline@self-help.org.

Newest from our blog:

Graphic - two SC credit unions merge with Self-Help

In case you missed it: We’re happy to announce two new additions to the Self-Help Credit Union family, both located in South Carolina. Welcome to Palmetto Trust Federal Credit Union located in Columbia, and also to CommunityWorks Federal Credit Union in Greenville. Palmetto Trust Federal officially joined us on September 1. CommunityWorks followed on October 1.

These mergers represent Self-Help’s first direct presence in South Carolina. We’re excited to pick up the work that these credit unions have started and expand financial services in the communities they serve.

Palmetto Trust Federal

Palmetto Trust Federal started in 1953, serving local federal employees in a diverse, growing community. Today the credit union serves over 2,200 members from two locations. It has $16 million in deposits and more than $8 million in loans.

Since 1980, Palmetto Trust has been led by Lucile Beckwith, who has extensive experience in the credit union industry. She and the rest of Palmetto’s leadership are enthusiastic about joining the Self-Help family, and we’re happy to have the benefit of their expertise. During our transition period in the coming months, Palmetto Trust will operate under the name “Palmetto Trust, a division of Self-Help CU.”

CommunityWorks Federal

CommunityWorks Federal Credit Union (CWFCU), a $3.4 million credit union, was chartered in 2014 to provide financial services to people of modest means in Greenville, South Carolina who are unbanked and under-banked. CWFCU was organized by CommunityWorks, a leading non-profit community loan fund based in Greenville focused on affordable housing, financial stability and small business lending.

Deborah McKetty, the CEO of CommunityWorks and CWFCU, has been a champion of affordable housing and financial services in the Greenville area. She said, “We launched the credit union as an alternative to predatory lending in our community. The products CWFCU provides allow members to build credit and achieve important financial milestones like homeownership.”

After four years, the credit union now serves nearly 1,500 members and has made 765 loans totaling over $4 million. Families have saved over $1.5 million in high interest by avoiding high costs predatory loans.

The leaders of both Palmetto Trust and CWFCU were seeking a strategic partner to help make it feasible to expand product offerings, including home loans. We appreciate their vote of confidence in Self-Help’s ability to strengthen fair and affordable lending to their members, and we’re delighted to expand our services in South Carolina!



Read more »

share on Twitter Like Welcome to Two Credit Unions in South Carolina on Facebook



Recent Articles:

Choice Community: A Tight-Knit Credit Union Family
A Legacy for the People: 17 Years of Service to West Oakland
How to Help Hurricane Florence Victims
Credit Union Resources for Members Affected by Hurricane Florence
New Charter School Brings Opportunity to an Underserved District
 
Twitter
LinkedIn
Facebook
YouTube
Website
Instagram
Self-Help | 301 West Main Street, DurhamNC 27701 | (919) 956-4400

For member services, please call 1-800-966-7353


Want fewer emails? 
update subscription preferences here 

 

unsubscribe from this list   


 

Comments

Popular posts from this blog

Fidelity: Bollinger band stock signal

Viewpoints: What to do after a data breach